Examples of recent questions relating to leasehold conveyancing in Monken Hadley
Having checked my lease I have discovered that there are only 72 years unexpired on my flat in Monken Hadley. I am keen to extend my lease but my landlord is can not be found. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to locate the freeholder. In some cases an enquiry agent would be useful to conduct investigations and prepare a report to be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court covering Monken Hadley.
Looking forward to sign contracts shortly on a basement flat in Monken Hadley. Conveyancing solicitors have said that they are sending me a report tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Monken Hadley should include some of the following:
- The physical extent of the property. This will be the flat itself but might incorporate a roof space or basement if applicable.
I have just appointed agents to market my 2 bed flat in Monken Hadley.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge demand – what should I do?
It best that you pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Do you have any top tips for leasehold conveyancing in Monken Hadley with the purpose of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Monken Hadley can be avoided where you instruct lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the buyers representatives.
- Many freeholders or Management Companies in Monken Hadley charge for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Monken Hadley.
I have had difficulty in seeking a lease extension in Monken Hadley. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the LVT to decide the premium.
An example of a Lease Extension case for a Monken Hadley property is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case affected 1 flat. The the unexpired residue of the current lease was 76 years.
Are there frequently found defects that you come across in leases for Monken Hadley properties?
Leasehold conveyancing in Monken Hadley is not unique. All leases is drafted differently and drafting errors can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the building
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Chelsea Building Society, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.